Since the medievalera, suppliers of goods and services to the Sovereign have received formal recognition. Initially this patronage was in the form of royal charters granted to the various guilds, and ultimatly led to the formation of the livery companies. Over the ensuing centuries, this relationship between the Crown and individual companies was formalised by the issue of royal warrants.

A Warrant is initially granted for five years, after which it comes up for review. Warrants may be cancelled at any time, and are automatically reviewed if the grantee leaves the business, or if the firm goes bankrupt or is sold. There are currently approximately 800 Royal Warrant holders, holding over 1100 Royal Warrants, some of which have been held by the same company for over 100 years